Food Industry News, Insights, and Education for the CPG Community

NOSH’s Pitch Slam 10 will feature the founders of the hottest new food brands competing virtually for the title. The semifinalists have been chosen, as well as the expert judges, who will be providing feedback and ultimately choosing the winner. So let’s meet the players.

Last week Chuck Muth, Chief Growth Officer at Beyond Meat, announced he had retired from the plant-based brand after four years. Muth will remain on the boards of several notable food and beverage brands, including Beyond Meat’s own joint venture with PepsiCo.

Chloe Epstein and Michael Sloan, the co-founders of better-for-you frozen novelty brand Chloe’s, explained why they shifted focus from foodservice to packaged goods and why Chloe’s is not shy about putting a target on the back of big CPG.

“Powerful branding, international exposure, and strong Environmental, Social, and Governance (ESG) credentials” are just three of the qualities making Oatly a major player in the plant-based food and beverage space, according to a new equity research report from Credit Suisse.

On Thursday, New Mexico Fresh Foods (NMFF) will host a ribbon cutting ceremony to celebrate the opening of its new high pressure processing (HPP) tolling facility — the first in the state. The company offers services for food products, juice, cold brew coffee, tea and green chili.

First, we’ll hear from Monisha Dabek, the new Chief Commercial Officer and General Manager of Ocean Spray. Dabek, who has helped grow and scale innovation at WhiteWave, Danone, and PepsiCo. Next, a pair of entrepreneurs whose sales thrived online during the COVID-19 pandemic will share their plans for getting ready to pound the pavement once again.

Online retailer Boxed announced today that it would become a publicly traded company via a merger with SPAC Seven Oaks Acquisition Corp. Seven Oaks said Boxed is expected to grow at a compound annual growth rate (CAGR) of 33% over the next five years, ultimately achieving $1 billion in net revenue by 2026.

In this week’s Checkout, Beech-Nut exits the rice cereal segment following a voluntary recall due to high arsenic levels; Instacart announces a $1 million ad initiative to support Black-owned brands; LiveKindly Collective acquires The Dutch Weed Burger; and actress Zooey Deschanel joins better-for-you shopping app Merryfield as co-founder and chief creative officer.

Faire, an online marketplace for retailers and brands, announced yesterday that it had closed an additional $260 million in funding. With this funding, Faire is valued at $7 billion, the company stated.

This week Clio Snacks expanded an ongoing recall of its chilled yogurt bars to almost all SKUs. The cause of the issue is connected to Clio’s chocolate production line, according to the company’s CEO and co-founder, Sergey Konchakoviskiy.

Popcorn startup Opopop wants to make popcorn “fun and cool again” — a mission it hopes to achieve by innovating in a space that hasn’t seen many major product advances since the invention of the air popper decades ago. Launched this week by music industry entrepreneurs Jonas Tempel and Bradley Roulier, Opopop is beginning by reimagining the microwave popcorn space.

As consumers “hunkered down” last year amid the pandemic, demand for new food and beverages was very much up, according to IRI’s New Products Pacesetter report examining the performance of 2020’s new product launches. And while a plague year may seem like a period for comfort food and old favorites, new and innovative products saw big benefits from out-of-stock issues and a desire among shoppers for a “change of pace.”

Cirona Labs, a cannabinoid manufacturer and supplier for food and beverage brands, announced today that it has raised $1.5 million in an oversubscribed seed round, led by LiDestri Food & Drink, BevSource and Sweetener Supply.

In the quest for a better-for-you pizza crust, it looks like cauliflower could be facing stiff competition from the chickpea. Yesterday pasta and pizza brand Banza announced its chickpea pizza crusts would be added to the menu at Oath Pizza, replacing the chain’s gluten-free and cauliflower crust options.